Dear friends. The end is near. The world has entered recession, the wealth of countries is reduced and the unemployment rate increased dramatically throughout the world (according to recent reports wider than long). I wonder how this crisis has led to brutal, so here it is Johan Serra to explain in a simple manner and for the whole family or cybernetic terms for dummies. Before to thank our sympathetic friend Leopoldo Abadía for advice.
This story begins with two very different types who have never shared or share drinks. On the one hand, a southern Alabama and banjo on his back that he was drooling while watching a wooden house with a sign "sells. This type of characters are called ninja ( No income, no job, no assets or no income, no job and no property), let a guy who would not pay even five euros. On the other side have 
a banker emos "yuppie" hair slicked with a sign visible to the back that makes "accompli and pissed bastard" . And why is angry? Because interest rates in the U.S. have come down a lot in recent years and the business does not provide as many benefits as a few years ago. So, the banker has two ideas to increase revenue, improve operations and riskier loans to more interest. A great idea in the capitalist world and unsupportive.
The link among these is our third featured a seller of mortgages whose only aim in life is to charge the fee for packaged mortgages to poor toothless. To begin, our ninja, named, Benjamin , the bank says that gives 100 to buy the wooden house of your dreams is worth 75. Benjamin wets his pants at the same branch imagining the cadillac of 69 to be purchased with the surplus what the hell, you can even ask her to marry his pregnant girlfriend!. Why the bank lends more value of the house? Because as it is thought that the housing market and corruption in Marbella, the home of 75 in a couple of years will be worth 200 and although Benjamin did not end up paying, which is very likely the odor seeing his armpits, draw 100 of benefit to auctioning. This type of mortgage, our "yuppie" called Julian and other sharks of Wall Street the called subprime mortgages.
This Machiavellian plan worked like clockwork for the past years. As the Bank of Alabama went running out of cash to grant loans to many ninjas, Julian and his cronies had the great idea to sell these mortgages to foreign banks bundling mortgages of people do not ninja ninja people with mortgages (prime and subprime) for more money, go to whores and follow Visa profit at any cost. To make it nice, put him as name Mortgage Backed Securities or MBS, which one likes to hear anything else. Like Luis Manuel Ferri Llopis did not sell a record producer until he came to call Nino Bravo, bravo sounds more and more "cool." Europeans did not hesitate to invest their money in these packages. The small American deposition thus became a big shit in the world. But, dear fellow, remember, USA liberated Europe and the world from the yoke of fascism and we are forever grateful TO SHOW. God bless .
The noble-earned money and the English blood and deposited in a branch of a lifetime in less than 15 seconds may have been lent to a ninja whose greatest concern is not returned, but a few beers watching the superbowl and clean your cadillac.
Here comes in another economic concept, interbank market. Although it may sound crazy, banks lend money to each other, "leave me a billion dollars to pay for coffee I forgot my wallet at home? Sure, it takes, I restore it to him." Now a comparison, the big heads slicked the world, Julian and his friends gather to throw a few holes in the Golf Club, but everyone starts to distrust his teammates because they know that clubs are bad but do not know how many in the bag. That is, they know that the MBS has reached all the banks (but not how much) and raises the suspicion. This leads to rise in the interbank market interests, which, interestingly, mark the Euribor in Europe marking the mortgage interest.
The Euribor rises but Nacho's cock and españolitos who had bought houses for 75 million pesetas (500,000 dollars) thanks to a low-interest loan payable in a century viewed as the monthly mortgage doubles being forced to sell the hut overlooking the beach and the girls topless. A taken by the housing bubble ass , to take the ass the idea of \u200b\u200bbuying into debt up to their eyeballs floors, rent and not work for life. No more construction as the first industry of the country.
result of all this: the interbank flow is reduced. Banks stop lending so much money because they do not sell so easily returned home in mortgage and some because they have a hard (billionaires prefer to pay cash), mortgages are starting to hit the balls to put purple and therefore reducing the mortgage consumption (no drug in this case) changing the English Court and Adolfo Dominguez by the Chinese and Zara or in worst cases for charitable and theft. And above all, to postpone the purchase of new car they had thought, "I think our Zarrías endure a few more years" they say. This drastic reduction in consumption of brands makes car manufacturers reduce their production, which leads to layoffs . In 2009 we learned that the car industry move more money than bitches. What began with an unemployed Alabama recently with millions of unemployed across the globe. CONSUME!
